The projected worldwide increase of women's income by 2013 is US$ 5.1 trillion, which is greater than China's expected growth of US$ 3 trillion over the same time period.

At Thursday’s session on the Power of the Purse, 70 Davos participants discussed how women's increase in purchasing power would transform markets and society.

With an estimated 80 percent of purchased dollars spent either controlled or influenced by women, the panellists discussed how by earning and influencing dollars spent people got a deeper voice not just in financial decisions but also in other aspects of their lives.

Of course, these numbers are not consistent on a global scale. One of the most obvious gaps in purchasing power exists between women in the developing world and in the developed world. In Canada over 60 percent of college and university graduates are women, while in many African countries women’s illiteracy is almost a third higher than that of men. This gap becomes more and more evident the faster women advance in developed nations.

And what about the men? As there is a shift in our economic relationships, we must be cognisant of the effect or shift that may occur in our interpersonal relationships.

Although women have taken vast steps towards increased financial illiteracy and financial ownership, the greatest gap that exists in the developed world is still in politics.  Many participants in the room agreed that there needs to be a broader search for potential candidates to fill these positions. The search needs to take place outside the regular channels, and should even perhaps overlook the potential candidate who happens to have the loudest voice.

Finally, an important topic that came up was how new financial power does bring privilege but it also brings responsibility. We are slowly emerging from a recession which has made us rethink our values and our reliance on more and more and more ‘stuff’. Humans will always want more stuff, to accumulate possessions and wealth – but women have an opportunity to be change agents for a more responsible, sustainable and transparent relationship as consumers.

Is it fair to assume that we have to take on this responsibility? I say, we all should.